Apple is the new most valuable company of all time (updated)

apple is the new most valuable company of all timeDespite what have been seen as recent stumbles from a company we have come to think of as near-infallible, Apple can lay claim to a new piece of history today with the announcement that – thanks to a second surge in the price of its stock in as many days of trading – the company is now, officially, the most valuable company in Wall Street history.

The company’s stock rose almost 3 percent today to $665.15 per share, after a similar rise on Friday afternoon, raising the company’s overall value to a staggering $624 billion, an amount described by the Associated Press as “the world’s highest ever. It beat the record market capitalization set by Microsoft Corp. in the heady days of the Internet boom.”

Microsoft’s record comes from December 1999, when the company’s value peaked at $616.3 billion according to Dow Jones analyst Howard Silverblatt (Oddly enough, the Hollywood Reporter claims that Microsoft topped out at $621 billion, presumably an error, considering that the Dow Jones expert cites a lower figure; either way, Apple has beaten the record, however).

Apple has actually been the most valuable company in the market for a few months now, since overtaking Exxon Mobil this past January; that company’s total value – $406 billion – now seems to pale in comparison to the impressive figure surrounding the computer giant. The record value comes just a month after Apple’s share price fell in the face of what was considered to be a disappointing second quarter in terms of sales for the company, despite profits rising 21 percent when compared with the same period in 2011. The relatively quick turnaround can be put down to not only common sense realization that a year-on-year increase in profits is actually a good thing, even if it’s not up to the level you’d been hoping for, but also the rumors surrounding a number of new releases in the near future, including a new generation of iPad, the iPhone 5 and the long-awaited push into the television space.

Although it is far ahead of competitors in overall value, Apple is far from alone in being a valuable tech company; of the five most valuable companies on the market, three are computer companies, with Microsoft coming in just behind Exxon Mobil to become the third most valuable, and IBM taking fifth place.

The good news for Apple comes amid even worse news for the continually-ailing Facebook. Shares in that company continue to hit new lows, now being worth less than half of their initial $38 price, a fact that has knocked more than $10 billion off the value of founder Mark Zuckerberg’s share in the company (Zuckerberg’s share is said to be worth around $9.5 billion, now, with the company’s overall value down to $40 billion from its original $100 billion+ estimate). According to estimates, Apple stock is now worth roughly fifteen times the current value of Facebook stock. Somewhere, Steve Jobs is looking down and smiling.

Originally published on 8-20-2012

Update 8-21-2012 by Jeffrey VC: A lot of sites like TechCrunch are re-reporting a Columbia Journalism Review piece which states that, if you adjust for inflation, Apple is not the most valuable company of all time and in fact IBM is the winner. Unfortunately, this isn’t true. Though CJR thought it was fun to lash out at prominent publications, the figures it gave for IBM were false, as it admitted in an update. IBM’s 1967 offering was valued at $192 billion after you adjust for inflation. If you want to get technical and take inflation into account, Microsoft’s $616.3 billion valuation in 1999 would equate to about $847.5 billion today. Of course, that is if you want to take inflation into account. If you don’t, Apple takes the crown. Both ways of viewing it are accurate. If we do care about it, we should tell Hollywood. Adjusting for inflation, Avatar moves from the #1 U.S. movie of all time to #14 and Gone with the Wind takes the crown.

Photography

Authentic, holistic, retro photography is in: Here are 2019’s predicted trends

What types of imagery are we most drawn to? According to recent stock photography data from Adobe, StoryBlocks, and Shutterstock, authentic, holistic, and humanitarian content will be in high demand in 2019.
Mobile

We tried all the latest and greatest smartphones to find the best of 2019

Smartphones are perhaps the most important and personal piece of tech on the planet. That’s why it’s important to pick the best phone for your individual needs. Here are the best smartphones you can buy.
Emerging Tech

Why wait? Here are some CES 2019 gadgets you can buy right now

Companies come to CES to wow us with their cutting edge technology, but only a few products are slated to hit the market right away. Here is our list of the best CES 2019 tech you can buy right now.
Computing

Intel vs. AMD: Which chipmaker stole the show at CES 2019?

Intel and AMD have been competing for years, but rarely do they both debut something exciting at the same time. Intel vs. AMD at CES 2019 saw both companies step up to the plate. Who served it better?
Mobile

Unleash your inner artist with the best drawing apps for the iPad Pro

The best drawing apps for the iPad Pro turn Apple's robust tablet into a canvas worthy of a true artist. Here are 20 of our current favorites, whether you're looking to keep things simple or take your art to the next level.
Computing

Should you buy the affordable MacBook Air, or is the MacBook Pro worth the price?

Though they both share Retina Displays and similar keyboards, there are still some specs differences and other changes that differentiate the new 2018 MacBook Air and MacBook Pro. In this guide, we stack the two up against each other.
Mobile

Biometric phone unlocks can’t be forced by feds, says U.S. judge

Fingerprint and face unlocks used to not be protected by the Fifth Amendment, but that may soon change. A judge in California has ruled biometric unlocking methods of all kinds are protected in the same way as passcodes.
Mobile

C you soon? Rumors swirl of a USB-C port on 2019 iPhones

While it's not been long since the last iPhones launched, rumors for the next iPhone are already surfacing. Apple's 2019 flagship could include a variety of upgrades ranging from a new design to enhanced features.
Apple

Apple may be developing a new iPod Touch to woo younger users

Apple may be developing its first new iPod touch model since 2015 as it aims to capture younger users who are not yet ready for their own smartphone, and expand its overall listening base in the future.
Mobile

The iPhone XS Battery Case's battery has a smaller capacity than previous cases

Apple has been rumored to be working on a new iPhone battery case for the iPhone XS, iPhone XS Max, and iPhone XR. Now, those new cases are finally here, offering seven hours of extra use for each iPhone and are available for $129.
Mobile

Join the Apple club with our complete guide to switching from Android to iOS

If Android simply isn’t cutting it for you anymore, then you might be considering Apple’s warm embrace. Here’s how to make the switch from Android to iOS without losing your contacts, sleep, or hair!
Mobile

It’s back! Here’s how to switch to Twitter’s reverse chronological feed

Twitter has finally brought back the reverse chronological feed, allowing you to see your feed based on the newest tweets, rather than using Twitter's algorithm that shows what it thinks you want to see. It's easy to switch.
Mobile

Having trouble logging in? Here’s how to reset your Apple ID password

To use any of Apple's services, you need to have an Apple ID and know your password. Thankfully, there are ways to deal with forgotten passwords and regain access to your account. Here's how to reset your Apple ID password.
Mobile

Turn to these apps to help you in your next hunt for a job

Looking for a job can be a stressful experience, but these days, a simple mobile app can help you to find and apply for jobs all over the country -- here are some of the best job search apps for iOS and Android.